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Do traders/salespeople get vacation time?

Since the markets operate pretty much everyday except weekends and bank holidays, do traders not get any vacation time? But the UK requires that employees receive 1 or 2 weeks of vacation time unless they're self-employed, so how do banks deal with this?
Original post by Ladbants
Since the markets operate pretty much everyday except weekends and bank holidays, do traders not get any vacation time? But the UK requires that employees receive 1 or 2 weeks of vacation time unless they're self-employed, so how do banks deal with this?

they probably don't let all their employees take holidays at once. hope that helps :smile:
I think traders are loathed to leave the floor to go for a piss, never mind have a week off. There's exemptions to the working time directive, and banks make full use of them in their contracts. I don't know a singe trader who's had any more than one or two days off a year plus Christmas Day - that's how the job works. Put it this way, I have friends who work at Goldman's and UBS and the notion of a 'holiday' is something alien to them.
(edited 7 years ago)
Reply 3
Avatar for rambapa
rambapa
1
Yes, obviously they get vacation time. Hence why markets are quiet in August. All you have is the computers trading with each other and the odd retail investor.
When they are on holiday they are trading too
Reply 5
Avatar for ib101
ib101
Original post by Reality Check
I think traders are loathed to leave the floor to go for a piss, never mind have a week off. There's exemptions to the working time directive, and banks make full use of them in their contracts. I don't know a singe trader who's had any more than one or two days off a year plus Christmas Day - that's how the job works.


I think if you had just said "I don't know a single trader" your post would've been more accurate.
Original post by ib101
I think if you had just said "I don't know a single trader" your post would've been more accurate.


Silly boy.
I doubt a VP or MD can take vacation ion time when they're in charge of trading a specific product.
Reply 8
Avatar for Ladbants
Ladbants
OP
21
Coolio, thanks guys
Maybe a career in trading is not for me. The long hours I'm fine with but I do need some time to unwind and go on short vacations. Maybe something like asset management, still a young guy so have time to make a decision
You sound like the sort of person who believes his maximum sick day limit should be taken whether sick or not.
yes they do (compulsory in uk office), it is a legal requirement
Original post by Ladbants
Coolio, thanks guys
Maybe a career in trading is not for me. The long hours I'm fine with but I do need some time to unwind and go on short vacations. Maybe something like asset management, still a young guy so have time to make a decision


In IB the hours are so very long (18 hours) so maybe look at other divisions?

I'm sure you could take a short vacation, maybe a weekend? only if you don't have an important deal or trades to execute for important clients
Reply 12
Avatar for souman
souman
11
Traders DO get vacations and their work hours are not long at all. Most are gone by 6 (some exceptions due to desk regions). They do 12 hrs (from 6 to 6) but they are quite independent in my opinion. Before anyone disagrees, i worked on the trading floor alongside traders for the past year.


Posted from TSR Mobile
It's compulsory to give 25+ days off in the UK, they can't not get vacation. All that happens is teams shift around to accommodate, markets die down at certain times of the year etc.

Not all traders/salespeople are glued to their desks either, very much depends on the client flow/market activity that day and the product.

Posted from TSR Mobile
Original post by Princepieman
It's compulsory to give 25+ days off in the UK, they can't not get vacation. All that happens is teams shift around to accommodate, markets die down at certain times of the year etc.

Not all traders/salespeople are glued to their desks either, very much depends on the client flow/market activity that day and the product.

Posted from TSR Mobile

But I'm guessing that they would be encouraged not to actually take those days off. At least that's what I heard happens in Singapore
Original post by biglad2k16
But I'm guessing that they would be encouraged not to actually take those days off. At least that's what I heard happens in Singapore


Nah, the UK is different

Posted from TSR Mobile
Yes they do, 3 weeks
They do technically get them but you can't really expect to be promoted if you're taking your full vacation time, at least in London
Reply 18
Avatar for souman
souman
11
Original post by grabembythepussy
They do technically get them but you can't really expect to be promoted if you're taking your full vacation time, at least in London


You need to get at least two weeks in one go so that if you are running a scheme it will be picked up by someone and reported. Not sure if this was only policy at my bb or it is nationwide regulation


Posted from TSR Mobile

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